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New Buffalo Area

Learn about the people, housing, costs and businesses in New Buffalo Area, Michigan

Median Home$247,765
Median Rent$850/month
Population30,041
Leading IndustriesManufacturing · Education · Agriculture & Mining2% manufacturing
Home Value Growth⬆⬆+17.7% over 2 years
Retirees24% of residentsabove average nationally
Homeowners80% of occupied units
New Buffalo Area
MI

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Real local data across mortgage, insurance, natural hazard, and place.

Frequently Asked Questions

What are today's mortgage rates in New Buffalo Area?

As of today, the 30-year fixed mortgage rate for New Buffalo Area is approximately 6.962% (7.000% APR). Rates vary based on your credit score, loan type, down payment, and other factors. Safe Rate updates rates daily using live investor pricing.

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What is the median home price in New Buffalo Area?

The median home value in New Buffalo Area is $248k. The median monthly rent is $850. Annual property taxes average $3k. Home values are based on U.S. Census Bureau American Community Survey estimates.

Are home values rising in New Buffalo Area?

Home values in New Buffalo Area have increased 17.7% over the past two years. This indicates a strong appreciation trend. This data is sourced from the Federal Housing Finance Agency (FHFA) House Price Index.

How much income do you need to buy a home in New Buffalo Area?

Based on a typical all-in ownership cost of $961/month (mortgage, taxes, insurance), you'd generally need a household income of approximately $41k/year to keep housing costs at or below 28% of gross income — a common lender guideline. The median household income in New Buffalo Area is $73k/year.

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What industries drive the economy in New Buffalo Area?

The largest employment sectors in New Buffalo Area are public administration (24%) and retail (13%) of the local workforce. Industry data is sourced from the U.S. Census Bureau American Community Survey.